Belrise Industries Ltd.

NSE: BELRISE · Auto Components & Equipments

52W Range₹125 ₹252

Snapshot

Unlock Belrise Industries Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Belrise Industries Limited is a diversified manufacturer of automotive components, supplying parts for two-wheelers, three-wheelers, and commercial vehicles. The company also produces polymer parts for home appliances, renewable energy components, and operates a rose plantation.

Business Model

The company generates revenue through the design, manufacture, and sale of a wide range of automotive systems, press parts, and plastic accessories to original equipment manufacturers. It also leverages its manufacturing capabilities to serve the home appliance and renewable energy sectors.

  • Founded:1988
  • Headquarters:Pune, India

Management Commentary

Management focuses on operational diversification and expanding its product portfolio beyond traditional automotive components into home appliances and renewable energy sectors. The company underwent a strategic rebranding from Badve Engineering Limited to Belrise Industries Limited in 2022 to reflect its evolving business identity.

Growth Outlook

Growth is driven by the expansion of its automotive component supply chain and the diversification into non-automotive segments like solar panel components and home security devices. The company continues to strengthen its domestic market position while maintaining an export presence.

Key Risks

  • Cyclical Automotive Demand. The company's revenue is highly sensitive to the cyclical nature of the Indian automotive industry and fluctuations in vehicle production volumes.
  • Raw Material Price Volatility. Fluctuations in the prices of steel, polymers, and other raw materials can significantly impact operating margins.
  • Technological Disruption. The transition to electric vehicles requires continuous investment in R&D to adapt traditional component manufacturing to new powertrain requirements.
  • Customer Concentration. Heavy reliance on a limited number of automotive original equipment manufacturers poses a risk if key client relationships deteriorate.

Price

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Key Metrics

P/E

30.9x

Q4 FY26 · consolidated

30.9 vs 31.4x5Y avg

EV/EBITDA

13.5x

Q4 FY26 · consolidated

13.5 vs 14.4x5Y avg

NET PROFIT MARGIN

5.1%

Q4 FY26 · consolidated

+0.3 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

-0.79xYoY

Peers · Auto Components & Equipments

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Belrise Industries Ltd.BELRISE
17,41930.9113.4613.4%18.2%22.9%+88.0%
Asahi India Glass Ltd.ASAHIINDIA
20,21065.8825.768.6%19.2%11.6%12.7%+5.5%
Sundram Fasteners Ltd.SUNDRMFAST
16,74234.5019.445.6%17.1%15.1%19.6%-4.5%
CIE AutomotiveCIEINDIA
16,58320.7311.8810.6%15.6%12.8%14.9%+8.9%
Craftsman Automation Ltd.CRAFTSMAN
16,29556.5420.7941.8%16.1%13.0%16.8%+46.8%
JBM Auto Ltd.JBMA
13,71753.4722.4911.3%13.9%17.0%23.9%+5.4%

As of Q4 FY26

Financials